ACH
Introduction to Automated Clearing House (ACH) transactions
Overview
The ACH (Automated Clearing House) network facilitates transfer of funds between banks in the US. Transactions can take between 24-48 hours for transactions to complete.
Zūm Rails offers support for Standard ACH and Same-day ACH. Using either payment method, customers can send and receive funds.
Benefits of using ACH
Low-Cost: ACH payments usually have lower fees than wire transfers or credit cards.
Speed: ACH payments are processed quickly, often within 1-2 business days.
Security: Highly secure with encryption and reduced risk of fraud compared to checks or cash.
Convenience: Easy to set up for recurring payments like payroll, bills, and subscriptions.
Wide Usage: Commonly accepted by businesses and financial institutions, both domestic and international.
Transaction Types
Using ACH, you can fund or withdraw Zūm Wallet, or send or receive funds from your users. Zum Rails supports the following transaction types for ACH:
FundZumWallet
WithdrawZumWallet
AccountsPayable
AccountsReceivable
Transaction Limits
Amount limit per transaction
$0.00
Unlimited
Maximum volume per day
$0.00
Unlimited
Transaction per day
0
99,999,999
Maximum Volume Per Month
$0.00
Unlimited
Transaction Events
Zūm Rails offers comprehensive transaction event tracking, detailing each step in a transaction's lifecycle. These events are also available as webhooks for real-time updates.
AchTransactionAccepted
When transaction is accepted
AchFailedTransactionExpired
When transaction has expired
AchFailedReturnedOrClosedAccount
When transaction is returned due to a closed account or any other return reason
AchFailedRejectedWithReason
When transaction is rejected for a reason
AchFailedGeneralError
When transaction has failed due to general error
AchFailedHighRiskOrPotentialFraud
When transaction is rejected as high-risk or potential fraud
AchFailedDueToMerchantSetup
When transaction failed because of invalid or inactive merchant id
AchFailedInvalidValueForField
When transaction failed due to invalid value for field
AchFailedAuthorizationRevoked
When transaction failed because authorization was revoked
AchFailedDuplicateTransaction
When transaction failed due to duplicated transaction
AchFailedDueToProcessorTimeout
When transaction is not successfully processed due to processor timeout
AchFailedTransactionNotAllowed
When transaction is not allowed by provider
AchBankAccountVerificationFailed
When transaction fails because the bank account verification failed
AchDebitResponseReceived
When response is received for a debit transaction
AchCreditResponseReceived
When response is received for a credit transaction
AchTransactionReturned
When transaction returned from bank
AchTransactionResubmitted
When transaction is resubmitted for processing again
AchCancellationFailed
When request to cancel transaction failed
AchCancellationFailedDueToMerchantSetup
When request to cancel transaction failed due to merchant setup
AchCancellationFailedRefundGreaterThanTransactionAmount
When request to cancel transaction failed as refund amount is bigger than transaction amount
AchCancellationFailedTransactionAlreadyCancelled
When request to cancel transaction failed because transaction is already cancelled
AchFailedDueToNegativeData
When transaction failed due to negative user data
AchFailedIneligibleBankAccount
When transaction failed because bank account is not on ACH network
Testing
To simulate an ACH failure, include an event name from the list above in the COMMENT field when creating a transaction. If you don't mention an event in the COMMENT, the transaction will change its status to "Completed" in the sandbox environment.
To simulate a late failure, mention any of the following events in the COMMENT field:
AchFailedRejectedWithReasonAchFailedReturnedOrClosedAccountSameDayAchFailedRejectedWithReasonSameDayAchFailedReturnedOrClosedAccount
Additional features
Account Verification - Zūm Rails provides Account Verification services, allowing connection to a user's financial institution to retrieve account and routing numbers. This information is useful for tasks such as money transfers and account setup. Zūm Rails ensures account validation according to NACHA WEB debit rules.
Balance Checks - Balance Checks allow retrieving the available balance for an end user’s financial accounts. This service provides balance details without retrieving transaction data.
Owner identification - Owner Identification retrieves information about the owner of an account, such as their name, address, and contact information. This information is crucial for verifying the identity of an end user.
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